October 4, 2017 in Posts

According To Warren Buffett’s Own Methods Stocks Are Not At All ‘Fairly-Priced Relative To Interest Rates’

Many people and pundits, including none other than Warren Buffett, continue to insist that stocks look fairly priced relative to interest rates. For the moment I will ignore the fact…

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September 28, 2017 in Posts

How The Popularity Of Passive Investing Precludes A Pleasant Outcome

One question passive investors may want to ask themselves today is, ‘When has any investment strategy become as popular as passive investing has today and also had a pleasant outcome?’…

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September 20, 2017 in Posts

All You Need To Know About The Fed In Just 2 Charts

The Fed was created in 1913 in response to the Panic of 1907. Its original mandate was to promote the sort of financial stability that would prevent or at least…

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September 14, 2017 in Posts

Stock Market Breadth Is Much Worse Than This Popular Measure Indicates

There are some strange things going on in certain breadth measures of the broad stock market right now. The most popular measure of market breadth has to be the NYSE…

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August 30, 2017 in Posts

The Great Equity-For-Debt Swap

There’s been a lot of attention paid to the amount of equity that has been removed from the markets by corporate takeovers and buyback programs. Bloomberg recently put the number…

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August 24, 2017 in Posts

Have We Learned Nothing From The Financial Crisis?

One of the hottest ‘Trump triumph trades’ late last year was the financial sector. Banks stocks soared in the immediate aftermath of the election leaving some to question why they…

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August 17, 2017 in Posts

The Great Passive Investing Bait-And-Switch

One problem with “passive investing” (which I have argued is actually an oxymoron) is the fact that it’s systematically buys high and sells low. This is simply a product of…

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August 11, 2017 in Posts

Got Gold?

While everyone pays such close attention to every tick of the stock market and the cryptocurrencies, gold has been quietly flying under the radar. Not many have noticed that it’s…

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August 2, 2017 in Posts

By This Measure The Current Stock Market Bubble Is Far Bigger Than The Dotcom Bubble

My friend, Dr. John Hussman, recently pointed out that stocks have now achieved a valuation altitude that is extremely rare. Only during the week of March 24, 2000, the very…

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July 14, 2017 in Posts

Why You Should Wear Your Twitter Trolls Like A Badge Of Honor

There’s been a lot of noise recently regarding some very high profile people leaving twitter due to the trolling so prevalent on the platform. I’ve been on twitter for about…

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July 7, 2017 in Posts

Rising Interest Rates Could Present A Problem For Risk Assets

Exactly one year ago I wrote, “long bonds enter the blowoff stage” (and “a few more thoughts on the long bond blowoff“). Since then the 30-year treasury yield has risen…

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June 24, 2017 in Posts

Yes, Bitcoin Is A Bubble And It’s About To Burst

The popularity of trading Bitcoin has now reached the point where none other than the New York Times sees fit to declare cryptocurrencies, or more specifically initial coin offerings, “The…

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